how do you pay taxes after you start a business?

Question

i want to start a business but i dont know where to start.
i dont know how this damn tax system works with paying up and keeping ledgers
i dont know ****
help me on everything

Answer 1

It all depends on your business type and the state your incorporated in or if your just a sole proprietor ship the state you live in. First and foremost save yourself the insanity of doing the books, your in business to do what your good at and unless your an accountant for your business I personally recommend you don't come close to those ledgers! I would recommend you finding a C.P.A. (Certified Public Accountant) and starting there. Best money I've ever spent, (just make sure you find yourself a good one at that).

I own my own mortgage brokerage and pay my Corporate taxes quarterly, directly from my bank account. My C.P.A. keeps an estimate of what I should be paying based on my company's performance and I can increase or lower the amount so I don't have to pay at the end of the year. You can set that up with the I.R.S. and depending on what state you live in you should be able to set up with the State Tax Board as well. Good luck.

Answer 2

Don't guess about this. Check with a good accountant.